Cyber Searchlight

Our new state-of-the-art cyber product is designed specifically for the SME market and, importantly, constructed around the cyber needs of SMEs and their brokers.

In a world in which data protection is an increasingly hot topic, and in which businesses rely heavily on technology, the impact of a cyber event or cyberattack can be significant.

Traditional insurance has added to that problem by making the insurance solutions seem complex and confusing.

Cyber Searchlight focuses on the assistance process that follows a cyber event, and aims to provide a responsive, straightforward service in a business’ hour of need.

It also indemnifies the policyholder against any claims brought against them as a result of the incident.

Treat it like a fifth emergency service, helping to get your clients back up and running as swiftly as possible, and ensuring they are covered for the unexpected.

Key product features

  • Pre-priced proposal forms
  • Online broker portal
  • Clear appetite
  • No excess on first party coverage

First party

Legal costs for advice in connection with the investigation of a data breach and the preparation of notifications to regulators and affected individuals;

Forensic costs to investigate the cause of a data breach and determine the information impacted;

Notification costs to inform individuals and / or regulators of the breach;

Call centre costs incurred to answer questions from affected individuals;

Identity protection costs to provide affected individuals with services to monitor, restore and/or protect an individual’s credit or identity;

Cyber extortion costs to establish the nature of the threat, establish the efficacy and safety of any decryption key, sourcing and paying any required crypto currency;

Funds transfer fraud indemnity for theft or transfer of money resulting from a security failure or a fraudulent communication to an employee

Public relations costs to assist with re-establishing the insureds business reputation;

Business interruption costs due to the interruption or suspension of the insured’s business resulting from a data breach or security failure.

Third Party

Defence costs, damages and fines for claims from individuals impacted and or investigations by regulators